Johnson Controls Cuts CEO Bonus over Ethics Violations

Executive Committee Cuts Bonus by $1 Million

The executive committee at Johnson Controls Inc. cut the bonus for Chief Executive Alex Molinaroli by 20%, or $1 million, after finding he violated the company’s ethics policy when he failed to disclose an extramarital affair with a consultant whose company did work for the auto parts maker, according to a filing.

In a proxy filing with the Securities and Exchange Commission last week, Johnson faulted the time it took Mr. Molinaroli to report his affair. It said the executive committee and board determined he “failed to...